India is a farming
major which contributes 14% to GDP and 51% of workforce depends on it.
Farm-based sectors like textile are important to Indian economy. India is
second largest producer of silk and cotton. It also has significant share in
international wool industry. Overall India is second largest producer of
textile giving direct employment to 4.5 crore people. Textile contributes 14%
to industrial production. Importance of this industry can be seen by the effect
it has on other related industries.
But even after so much progress we are not working at required level of
efficiency and productivity. There is high internal competition in the industry
and even at global level we are not able to compete with countries like China, Bangladesh
and Vietnam. Although we are becoming more technology conscious but we are still
lacking some factors which are important for growth.
To improve the profitability we need to manage costs, reduce
waste and serve customer better. We need to change our thinking towards use of
technology and adopt new practices. We should open ourselves to research and
technology providers who can help improve our business. We need to learn from
other people mistakes. Other countries have outgrown with even lesser
resources.
There are many opportunities waiting to be explored by
efficient and productive businesses.
Explore further at
Karobardeal.com
